The Toronto Stock Exchange reported, in a bulletin dated Nov. 13, 2023, that Citadel Income Fund unitholders had approved an extraordinary resolution authorizing the fund to redeem an aggregate of not less than 7,186,900 units of the fund at an amount per unit equal to the net asset value (NAV) per unit, less redemption costs equal to 4.5 per cent of the NAV per unit, plus applicable taxes. As stated in the bulletin, the redemption date for the special redemption had been set for Dec. 7, 2023, and if requests for redemptions exceed 7,186,900 units, then the units would be redeemed on a pro rata basis.

Further to the Nov. 13, 2023, bulletin, the TSX reports that the deadline for the special redemption has been extended. The election to exercise the special redemption must now be submitted by 5 p.m. Toronto time on Nov. 27, 2023. Accordingly, trades in the units on Nov. 24, 2023, and from 9:30 a.m. Toronto time to 12 p.m. Toronto time on Nov. 27, 2023, will settle on Nov. 27, 2023.

As the units of the fund were issued in book-entry-only form and are held through CDS Clearing and Depository Services Inc., the exact procedure for electing the special redemption will be as determined by the broker, dealer, bank, trust company or other nominee through which the unitholder holds units. Unitholders should contact their broker, dealer, bank, trust company or other nominee as soon as possible to confirm their deadline and for instructions on how to exercise the special redemption, if they desire to do so.

For more information, see the fund's management information circular dated Oct. 2, 2023, and its news releases dated Nov. 7, 2023, and Nov. 16, 2023, all of which are available on SEDAR+.